Cash ISAs: The Best Currently Available List

Nick_C

2010 said:

Nick_C said:

2010 said:

Nick_C said:

2010 said:

If your income exceeds £18,570 then you pay tax on everything above that.
The savings interest is sent by the providers to HMRC in July/August and if you owe any tax you will get a P800 in October telling you how much you owe and your code will be adjusted the following April to claw it back.

Very misleading statement in isolation. 

My income exceeds £18570, but I dont pay tax on interest from non ISA savings as the interest is below £1000 a year.

I can also have up to £1000 of miscellaneous income which is covered by the trading allowance. 

Wrong board it`s the tax board you need to post on.
Your obviously not on PAYE.

1)  I was responding to your post - which perhaps should be on the tax board.

2)  I am on PAYE.   

If you want to be helpful and help others on this matter maybe you should elaborate on how you earn above £18,570 and still avoid tax on savings interest.

The £1000 personal savings allowance for basic rate tax payers is common knowledge to most people on these threads.  I am surprised you don't know about it, but you can read about it at https://www.gov.uk/apply-tax-free-interest-on-savings 

Murielson

Came here looking for this ........... 

Cash ISAs: The Best Currently Available List

csw5780

Murielson said:

Came here looking for this ........... 

Cash ISAs: The Best Currently Available List

It’s on page 1 👍🏻

FishInGlass

Shawbrook 1yr fixed now 4.84%, 2yr 4.64%, 3yr 4.48%, 5yr 4.14%

Castle Trust 1yr fix 4.87%

Moving in the right direction. Maybe an option for some of my Zopa smart ISA money?

refluxer

FishInGlass said:

Shawbrook 1yr fixed now 4.84%, 2yr 4.64%, 3yr 4.48%, 5yr 4.14%

Castle Trust 1yr fix 4.87%

Moving in the right direction. Maybe an option for some of my Zopa smart ISA money?

Note that you can't do partial ISA transfers-out from Zopa so you'd have to transfer out all of your ISA funds together (including all access and fixed pots, paying penalties for the latter).

FishInGlass

refluxer said:

FishInGlass said:

Shawbrook 1yr fixed now 4.84%, 2yr 4.64%, 3yr 4.48%, 5yr 4.14%

Castle Trust 1yr fix 4.87%

Moving in the right direction. Maybe an option for some of my Zopa smart ISA money?

Note that you can't do partial ISA transfers-out from Zopa so you'd have to transfer out all of your ISA funds together (including all access and fixed pots, paying penalties for the latter).

I'd probably take some money out (or not put it there in the first place) to open a new fixed ISA with that. I agree with you that I can't make a partial transfer out, but the combination of it being a flexible ISA and the new rules on opening multiple cash ISAs should make both of those options possible. I am happy to be corrected if someone thinks the former will not work.

At the moment this is only a thought and I will obviously monitor the situation as and when rates change.

I have no fixed pots with Zopa so that's one less thing to consider.

slinger2

Under the new rules, withdrawals from a flexible Cash ISA can only go back to the same Cash ISA. Given that ZOPA don't allow partial transfers out, you'd have to transfer the whole lot somewhere else, perhaps to a provider that did allow partial transfers out. All gets very complicated.

DaveyCee

Any recent news on transfers into the Chip cash ISA, apart from registering your interest? 

Id like to use them, but I want assurances that I'll be able to transfer other ISA's into them 6-12 months from now. 

10_66

DaveyCee said:

Any recent news on transfers into the Chip cash ISA, apart from registering your interest? 

Id like to use them, but I want assurances that I'll be able to transfer other ISA's into them 6-12 months from now. 

I tried asking this using their "chat" service days ago (why on earth is this known as chat, since there's no chat involved), but no one's got back to me.

DaveyCee

CHIP CASH ISA UPDATE....

(Still no official date though)

We are pleased to announce that we’ve made some changes to the Chip Cash ISA to allow you to bring your other Cash ISAs to Chip, which we’ll be launching very soon. If you’re subscribed to marketing, watch your inboxes for the launch announcement.

To summarise:

• You will be able to transfer in Cash ISAs you may hold with other providers into the Chip Cash ISA.
• We are removing the account limit for the Chip Cash ISA account (previously it was £85,000).

This has been added into the “Short of Time” section and the “Payments into your Cash ISA” section of Part 2 of the terms, and have also been reflected in the Chip Cash ISA Summary Box and Key Features Document. These changes will take effect immediately.